Bernie Ecclestone would have loved to spend £28m saving his mother-in-law, but things are little tight right now, according to reports emerging this morning.

Aparecida Schunck, 67, the mother of Mr Ecclestone’s Brazilian wife Fabiana Flosi, was abducted from her Sao Paulo home ten days ago but has been released despite Ecclestone not paying the ransom.

The Formula One boss, who has a track record of throwing around significant amounts of money to influence the decisions of people who can affect his life, was reluctant to pay the money requested for his mother in law.

As he explained to reporters, “There is a huge difference between spending £60m paying off the Germans, so I didn’t need to go to prison for bribery, and spending £28m so I can continue getting surprise visits from the Mother in Law.

“Oh, and we don’t negotiate with terrorists. Yes, that’s the line.

“It would have been a tragedy if they’d not released her alive and well, definitely, but one I would have accepted in the worldwide fight against terrorism.”

Schunck herself said she was feeling ok, and very much looking forward to seeing her 85-year-old son-in-law to ‘thank’ him for his concern.